- CEZ: Patria issued a new CEZ report yesterday. We believe that the market largely overshot due to fears related to Temelin, foreign opposition, and exports to Germany. Nevertheless, these issues seem to leave CEZ’s operations unharmed and the company’s current performance as well as its outlook is gradually improving. Therefore we reiterate our short- and long-term buy recommendations with a target price of CZK 140 per share.
Czech Press Agency quotes Finance Minister Jiri Rusnok who says that Temelin is not to be excluded from the privatized assets. He reiterated that by the end of 2001 CEZ should be privatized. Neutral.
Local Pravo says that CEZ plans to halt the Temelin turbine today for a while. After its fine-tuning, the 55% capacity tests will continue. Neutral.
Prime Minister Zeman said that the “Melk” process (framework for Temelin’s safety assessment and related international communication) could be completed by the half of September. Expected
(Jiří Soustružník)